Economy & Policy

EU Likely to Raise Tobacco Taxes to Suppress Smoking

Butt out or pay up. The EU is set to propose stronger taxes on cigarettes and its first union-wide excise levy on vaping and tobacco-warming products, according to a draft European Commission document, curbing smoking habits, and opening gobs of…

Skills Shortage Forces Tightly Locked New Zealand to Creak Its Doors Open

New Zealand — which has imposed some of the strictest Covid measures in the world — said Thursday that it will slowly reopen its international borders in 2021, as a massive skills shortage has left several key industries desperate for…

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Americans’ Collective Debt is $15 Trillion, After Rising the Most in 14 Years

Locked down at home but still on the clock, the pandemic was a great time for many Americans to stockpile cash. Now they’ve embarked on a follow-up project: building a tower of debt. The Federal Reserve said Tuesday that America’s…

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GDP Growth Underwhelms, But Propels U.S. Economy Above Pre-Pandemic Levels

The good news: America’s economy grew a solid 6.5% in the second quarter, according to estimates released by the Commerce Department Thursday. The GDP of the world’s largest economy is now above pre-pandemic levels, as government stimulus and Covid-19 vaccinations…

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America is Leading the Global Economy Above And Beyond Its Pre-Pandemic Strength

When it comes to overcoming global crises, America has a history of doing some heavy lifting. And new estimates suggest the world’s largest economy is poised to pull the world out of its pandemic funk. Economists believe the U.S. economy…

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Nasdaq Links Up With Banks To Spin Off Its Market For Pre-IPO Shares

While still reserved for the caviar crowd — accredited investors that meet a high standard in net worth or income — marketplaces for pre-IPO shares are on fire. And now a major exchange operator is looking to capitalize on the…

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Costs At U.S. Banks Are Growing Faster Than Revenues

Many analysts figured banks were due for a belt-tightening this year after America’s biggest lenders splurged to keep their operations running during the pandemic. The spending spree, however, has persisted. Costs at the top five U.S. banks — JPMorgan Chase,…

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Price Volatility Might Not Stick Around, But It’s Here For Now

Two weeks ago, the Federal Reserve said sharp inflation would only be temporary, and that high prices on goods are “largely reflecting transitory factors.” Only time will tell whether the Fed was right, but in the meantime, price swings are…

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The Twenties Are Roaring at the Top

It might be another year or two for overall travel to return to normal, but United Airlines expects demand for leisure trips to surge to pre-pandemic levels this summer. The airline is so confident in the air travel rebound that…

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The Old Superpower and the Sea

You could say it’s a new cold war. Long-frozen sea lanes way up in the Arctic Ocean are thawing out and opening up, trimming the voyage from Moscow to Asia by a third and instigating a fierce battle for control…

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Drinks On These 5.2 Million People

At this point you’ve heard the story line for one full year — the pandemic created a yawning chasm between the rich and the less (financially) fortunate. Yesterday investment bank Credit Suisse shined a bright light on just how large…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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